Key facts
- Former Barclays CEO Jes Staley testified before the House Committee on Oversight and Government Reform.
- Staley denied having a friendship with Jeffrey Epstein during the closed-door hearing.
- Democratic lawmakers on the committee expressed strong skepticism regarding Staley's statements.
- Representative Robert Garcia stated Staley was "flat out lying" and his claims of no friendship were "ridiculous."
- The committee's investigation concerns Jeffrey Epstein and Ghislaine Maxwell.
- Staley previously faced regulatory action in the UK for misleading the Financial Conduct Authority about his relationship with Epstein.
Former Barclays Chief Executive Jes Staley testified before the U.S. House Committee on Oversight and Government Reform, denying any friendship with Jeffrey Epstein. However, Democratic lawmakers on the committee expressed significant disbelief, with Representative Robert Garcia calling Staley's statements "ridiculous" and accusing him of lying. Staley appeared as part of the committee's ongoing investigation into Epstein and his associate Ghislaine Maxwell.
Staley, who previously lost an appeal against a ban by the British financial regulator for misleading them about his ties to Epstein, maintained he had a close professional relationship but was unaware of Epstein's crimes. The Financial Conduct Authority had cited over 1,000 emails where Staley described his friendship with Epstein as "profound." Barclays stated that Staley misled the bank and others regarding the nature of his relationship with Epstein, particularly concerning activities that predated his employment at the bank.
Senator Elizabeth Warren, along with other Democratic representatives, has urged Barclays' Chair Nigel Higgins for answers regarding the bank's investigation into Staley's connections to Epstein. Staley's past roles include heading the private bank at JPMorgan Chase, where Epstein was a client. JPMorgan had previously sued Staley before reaching a confidential settlement.